Rhetoric always seems to trump reality in the headline department. This has been evident as a fawning press and commentators have made the most of the decline in driving from high gas prices and the related increase in transit ridership. As gas prices rose to their above $4.00 peak, driving in the nation’s urban areas had declined 2.0 percent over a year. At the same time, transit ridership rose 3.3 percent, leading to the impression that transit ridership increases had accounted for most, if not more than the loss in driving. read more »
Reason magazine’s Jesse Walker opens his commentary on the New Zealand election by saying: “At least one country is responding to the financial crisis by moving to the right, not left.” This is factually correct but may overstate the case. read more »
“Architectural publication, criticism and even education are now focused relentlessly on the enticing visual image. The longing for singular, memorable imagery subordinates other aspects of buildings, isolating architecture in disembodied vision.” – Finnish architect Juhani Pallasmaa, from his essay “Toward an Architecture of Humility”
Anyone paying even remote attention to the domain of high architectural design in the past decade will surely recognize the name Frank Gehry. The celebrity architect (or if you prefer to use the portmanteau word used to describe such practitioners: starchitect) is best known for his unconventional creations-buildings that billow, swoop and shimmer. read more »
Toyota is careful in its ways; it didn’t get where it is today by idly locating manufacturing plants. And, so it chose Georgetown, Ky. – 12 miles north of Lexington on I-75 – for the location of its first and largest U.S. plant. It was followed in the ensuing years by numerous other foreign auto plants locating in the South – BMW, Mercedes, Saturn, Hyundai and yet another Toyota (in Mississippi).
Why, you may ask, did they come to the South? read more »
This is one tough Thanksgiving coming up for a lot of folks in Los Angeles, where so many have been left vulnerable by the economic downturn.
This place of ours, this city, looked good for the ride just a few months ago.
Now it looks different.
There are different faces on our streets. Some are new, out of place, in a daze over where they have landed. read more »
The “credit crisis” is largely a Wall Street disaster of its own making. From the sale of stocks and bonds that are never delivered, to the purchase of default insurance worth more than the buyer’s assets, we no longer have investment strategies, but rather investment schemes. As long as everyone was making money, no one complained. But like any Ponzi Scheme, eventually the pyramid begins to collapse.
For the last couple of months trillions of dollars worth of US Treasury bonds have been sold but undelivered. Trades that go unsettled have become an event so common that the industry has an acronym for it: FTD, or fail to deliver. read more »
But instead of a nice birthday card, my home town of Pittsburgh could use a sympathy card. It’s been a tough last 100 years for a once great and powerful city.
The first 150 years were not so bad. On Nov. 25, 1758 British Gen. John Forbes named the city for prime minister William Pitt after chasing the French from the militarily and economically strategic triangle of land where the Allegheny and Monongahela rivers meet to form the Ohio. read more »
Pertaining to brain drain hype, Michigan has no equal. So profound is the out-migration that a local broadcasting network coined a term: Michigration. This was in January of 2008. I did a little digging and discovered the fuel for the story was a United Van Lines study about Michigan’s net loss of residents.
Net population loss is often confused with emigration. Upstate New York, another brain drain case for a future article, is no exception. The Federal Reserve Bank branch in Buffalo issued a report that tried to clear up the confusion, explicitly stating the challenge is attracting more people instead of the assumed issue of retention. read more »
When Mayor Bloomberg deployed his vast personal and political power to overturn the term limits law, he began to demystify the public relations image he had purchased at considerable expense.
It was only then that New Yorkers began to recognize the danger of making Gotham's wealthiest man its chief executive. That recognition is the reason his approval rating slipped by nine points in the latest Marist poll. The public chose a mayor; they didn't expect an elected monarch. read more »
Scholars as well as pundits and politicians will study this remarkable election exhaustively. Many, including me, will use county data, because they are convenient and available. From a statistical point of view, counties are lousy units, because of huge variation in size and excess internal variability. But we can’t resist, so here are some at least suggestive findings. read more »